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  • manylumen manylumen Dec 2, 2008 8:41 AM Flag

    You think Chinese will park their cars?

    Actually yes at least part of the time or more often, just like North Americans. But that is short term, longer term you are right demand will start to grow again. Its also about India and Eastern Europe. Car sales in the former Soviet Union and eastern European countries have grown a lot as well. Having said all that the excess or fat in the demand in North america sitll out weights growth in the near term. My guess is bottom happens in the next 6 months. There are still issues short term that can spike the price of oil higher such as conflict, but one should not count on that, its the long term that looks for higher oil.

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